2. Law Firm Growth Plans!
• You’re losing business because you can’t
keep up with demand
• You need/want to focus on certain
aspects of your business rather than
struggling to juggle everything
How to know when to hire your first employee!
by Charlene Jimenez in Business Entrepreneur -
February 21, 2012 !
4. Law Firm Growth Plans!
Adding Employees
• Paralegals median pay was $46,680 per
year.
• Legal secretaries median pay was $42,460
per year.
• Beginning associate median pay was
$61,245 per year.
Billings – [Total Compensation +
Direct and Indirect Expenses] = Net Profit.
Photo by Cornerstone Signature on Flickr!
9. Word of Mouth
57% of C-Level Executives hire
law firms on the basis of a
single, unprompted, peer
recommendation
Source: BTI Consulting Group!
10. Clients Don’t Want Lowest Price
• Transparent pricing: We want to
understand how/why the price is set and
have the opportunity to discuss changes -
36.4%
• Lowest pricing: We want the lowest price
available - 9.6%
Source:Altman Weil 14th annual Chief Legal Officer Survey!
11. Listening to Clients = Revenue
• Only 58% of law firms conduct client
feedback.
• Firms acting on feedback generate 2.7
times more:
– revenue generation
– client retention
– year-over-year growth.
Source: BTI Consulting Group,“Firms Acting on Client Feedback
Perform 2.7 Times Better Than All Others,” 03/12/2014!
12. Listening to Clients = Revenue
Law firms whose clients see them as being
best in client service enjoy:
• 30% higher profitability
• 7% rate premiums across all staff levels
• 35% higher client retention
Source: BTI Consulting Group,“Client Service Leaders Boxing Out the
Competition,” 02/27/2013!
15. JODI ANN DONATO,
ESQ., LLC
“I can honestly say it was THE
BEST business decision I have
made in the last 10 years. Ruby
has helped me capture new
business that I would have
otherwise missed out on
because I could no longer ‘do it
all’ myself.”
Jodi
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Grow